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Eliotwave

#CRSR Long?- CRSR looking like a nice long after making a long correction of lower lows. But also making higher highs, but leaving nasty fakeouts. - Its been holding support pretty good so far and its been bouncing of a strong trendline and fibs. - It might have also left a scot wick to the upside possibility being filled if we start to push up but it has left a weak supply zone that we should rip right through if we return to thouse levels once again. Overall bullish but if it breaks itrs trend of lower lows i would leave it alone as it then will become a risky trade.
NASDAQ:CRSRLong
by Raulf-m
4
#AMZN Is This The beginning of Amazon?- AMZN looking like an amzing falling wedge, I believe its done with its long abcde correction, as well bounced looking to be bouncing off the trendline here soon witht he fibs. - Not a strong confirmation as ER is around the corner and it can actually be the reason why it can actually can drop hard instead of following this bullish wave count. - ER should determine the direction of Amazon. - I am not too confident on this one i would like to as FAANG is looking extremely weak
NASDAQ:AMZNLong
by Raulf-m
2
BITCOIN update analysisHi traders, last week we saw expected push to the upside on bitcoin, but after that price made pullback again, which for me is showing that price isnt ready to push higher. So i i change my view a bit, i still expect that push to 27k area to complete that flag, since we have A-B wave at the moment, so we need third leg so complete this pattern. So as you see price is forming bearish price action. I already have one short posittion secured with be, from 34760 but i expect price to make bigger correction. So wait for price action to complete before selling! I will update below price action for better understanding! Stay patient!
BITSTAMP:BTCUSDShort
by KosirFX
2
QS - QUANTUM GAINS INCOMINGThis has been a stock that has hilarious rocketed to over $100. I actually had a coworker tell me about this stock, battery hopes, rocketship emojis, and all that. He bought at $100 and sold at $45 today. Hilarious. We don't get attached to stocks here. We are traders. And boy this setup was beautiful. Trading the B waves of exponential run ups are insane, and that's what we got on our hands here. First let's look at the macro view. I think this stock is working on coiling down into an ABC. Now we are looking for evidence of completion of wave A. For this idea, I have 3 price targets in mind. The risk reward is most favorable for target point #1 of $85. I will be selling there and moving my money to the next s*** stock. Here, there is a blaring gap along the way that will want to be filled. I put the fib retrace on an endpoint of $38 which is the premise I am basing this trade around. Low and behold you have beautiful reactions and the other significant fib levels for retracements. Two additions TPs were identified with reasons shown on the graph. Test your luck with those. Next, let's dig into the major price levels I have for completion of wave A. From previous price action I have $45.50 and $38. I entered 70% of my long position at pennies away from the low this morning since I had identified $45.50. The remainder will go in IF we hit $38. If we don't go to $38, I will look for a retrace to enter, but only if trend reversal is confirmed by eliot wave count validation. We have more evidence that the $38 price target is valid. Dissecting wave 5, it becomes a bit more clear. However, it should be noted that we already hit the 2.272 extension of 1 to 2 which is typical target for wave 5's. For this reason, I am 70% into my position. To also comment on why $38 is on the table, it appears that major indices are cooling off. SP500 ES futures have bounced off the top of channel defining this uptrend. AMZN and other tech stocks appear to head into a wave E of the triangle compression. Extra info there, but those are my proxies for this play if it has another leg down. Lastly, let's talk about divergence. It is a leading indicator of a pending trend reversal. You can use RSI, PPO, MACD do, but prefer RSI with the standard presets. You have divergence on all major timeframes now. It will not be invalidated for a move to $38; will only extend it and add more meat to the bone. GOODLUCK s/o Hawk's Nest
NYSE:QSLong
by warrenbudget
23
GBPJPY analysis and forecastHi traders, as you see gbpjpy is in big bearish flag pattern, price didnt break high of our impulse so this setup is still valid for me. Price break our trendline agressively so that indicate that price is lossing buy momentum and it might push lower. But in order to confirm that move we need correction so that our price action will be complete. I will wait for possible retrace and correction on 1h, i will update below when it will be ready. As i posted few days ago, gbp index is showing that it can push bit higher so that might give us correction on GBPJPY, stay patient!
Short
by KosirFX
2